Mattern Capital Management LLC Grows Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Mattern Capital Management LLC raised its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 45.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,256 shares of the company’s stock after acquiring an additional 3,502 shares during the quarter. Mattern Capital Management LLC’s holdings in Advance Auto Parts were worth $532,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Advance Auto Parts in the third quarter valued at approximately $14,684,000. Wolverine Asset Management LLC raised its position in shares of Advance Auto Parts by 212.4% in the third quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock valued at $1,223,000 after purchasing an additional 21,320 shares during the period. Blue Trust Inc. raised its position in shares of Advance Auto Parts by 75.9% in the fourth quarter. Blue Trust Inc. now owns 2,119 shares of the company’s stock valued at $100,000 after purchasing an additional 914 shares during the period. Quest Partners LLC bought a new stake in shares of Advance Auto Parts in the third quarter valued at approximately $579,000. Finally, Moody National Bank Trust Division bought a new stake in shares of Advance Auto Parts in the fourth quarter valued at approximately $1,196,000. Institutional investors own 88.75% of the company’s stock.

Insider Activity

In other news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. UBS Group upped their target price on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Evercore ISI upped their target price on shares of Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. DA Davidson reaffirmed a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Finally, Royal Bank of Canada decreased their target price on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.93.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $44.42 on Friday. Advance Auto Parts, Inc. has a one year low of $35.59 and a one year high of $88.56. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 60.85, a PEG ratio of 2.03 and a beta of 1.15. The company’s fifty day moving average price is $46.22 and its 200-day moving average price is $44.51. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.